"UT, why do you think APRA wanted the bank to do a stress test with immediate effect (although the horse bolted long ago)?
Because APRA sees a housing crash as a 0 probabilty ??"
Simply because it is good risk management - better to do the stress test and have adequate preparation and mitigation in place. Doesn't mean it is the end of the world! On the ground things aren't significantly different to where we were 6 months ago!
